Supervision Collective Job Opportunity: Principal Analyst (RE-05)

Office of the Superintendent of Financial Institutions Canada • Montreal, QC

4d • CA$105,200 - CA$135,300 • Hybrid

About The Position

These positions are classified at the RE-05 group and level, which is roughly equivalent to the CT-FIN-03 group and level. The positions are located in Toronto and Montreal, with potential for approved remote work from Toronto, Ottawa, Montreal, or Vancouver offices depending on worksite availability. OSFI's work model includes telework and mandatory onsite presence, with telework arrangements reviewed annually and subject to change. The salary range for the RE-05 level is from $105,200 to $135,300. The immediate intent of this process is to fill multiple positions with various language requirements (English essential and bilingual imperative) on both a term (two to five years) and indeterminate basis. A pool of qualified candidates may be created for similar positions with varying linguistic profiles, security requirements, tenures, and locations within the Office of the Superintendent of Financial Institutions (OSFI).

Requirements

• Official Language Proficiency: Various language requirements including English Essential, Bilingual – Imperative (CBC/CBC), Bilingual – Imperative (CCC/CCC).
• For Insurance and Domestic Banking positions: A degree OR diploma from a recognized post-secondary institution with specialization in business, commerce, actuarial, economics, finance, mathematics, accounting, or other relevant field OR an acceptable combination of relevant experience AND education or training.
• For SDAI positions: A degree from a recognized post-secondary institution with a specialization in computer science, statistics, mathematics, actuarial, economics, business, finance, or other relevant field OR an acceptable combination of relevant experience AND education or training.
• For Insurance positions: Significant experience (defined as normally associated with four years) in one or more of the following areas: underwriting, claims, risk assessment, risk management, actuarial, internal audit, compliance, or finance in a federally or provincially regulated insurer; supervision of federally or provincially regulated insurers in a government body that directly deals with the supervision and regulation of insurers; conducting audits or providing risk-related consulting to federally or provincially regulated insurers in an external audit or consulting firm.
• For Domestic Banking positions: Significant experience (defined as normally associated with four years) in one or more of the following areas: risk assessment, risk management, internal audit, compliance, finance, or treasury in a federally or provincially regulated DTI; supervision of federally or provincially regulated DTIs in a government body that directly deals with the supervision and regulation of DTIs; conducting audits or providing risk-related consulting to federally or provincially regulated DTIs in an external audit or consulting firm.
• For SDAI positions: Significant experience (defined as normally associated with four years) in each of the following: data preparation, transformation, and building analytics tools tailored to business needs using tools such as Power BI, Power Apps, and Python; interpreting analytics outputs and enabling data-driven decisions through effective visualizations and clear storytelling techniques in the context of insurers or DTIs; analyzing insurance or banking financial risk data to identify, quantify, and monitor risks in one or more of the following: a DTI or insurer, a government body that directly supervises or regulates DTIs or insurers, a consulting firm providing financial risk analytics services to DTIs or insurers.
• Knowledge of business models and typical products of life or P&C insurers, business and regulatory requirements in which insurers operate, and current and emerging risks and trends facing insurers, including the information, techniques, and governance practices used in the measurement and management of associated risks (for Insurance positions).
• Knowledge of business models and typical products of DTIs, business and regulatory requirements in which DTIs operate, and current and emerging risks and trends facing DTIs, including the information, techniques, and governance practices used in the measurement and management of associated risks (for Domestic Banking positions).
• Knowledge of business models and typical products of insurers or DTIs, business and regulatory requirements in which insurers or DTIs operate, current and emerging risks and trends facing insurers or DTIs, including the information, techniques, and governance practices used in the measurement and management of associated risks, and statistical and analytical techniques and tools, such as regression, data mining, and visualization, to explore data, find patterns and relationships, and generate insights that help solve moderately complex problems (for SDAI positions).
• Essential Competencies: Collaboration, Critical thinking, Innovation, Results orientation.
• Essential Abilities: Ability to communicate effectively in writing, Ability to communicate effectively verbally.

Nice To Haves

• Graduate degree from a recognized post-secondary institution with relevance to the financial services sector, such as a graduate degree in finance, business, commerce, economics, mathematics, actuarial science, statistics, engineering, computer science, or data analytics.
• A relevant recognized professional designation or credential (for example, CPA, CFA, FRM, CMA, CERA, FCIA, FCAS, FSA, FCIP, CIP, CRM).
• For Insurance positions: Extensive experience (defined as normally associated with six years) in one or more of the following areas: underwriting, claims, risk assessment, risk management, actuarial, internal audit, compliance, or finance in a federally or provincially regulated insurer; supervision of federally or provincially regulated insurers in a government body that directly deals with the supervision and regulation of insurers; conducting audits or providing risk-related consulting to federally or provincially regulated insurers in an external audit or consulting firm.
• For Domestic Banking positions: Extensive experience (defined as normally associated with six years) in one or more of the following areas: risk assessment, risk management, internal audit, compliance, finance, or treasury in a federally or provincially regulated DTI; supervision of federally or provincially regulated DTIs in a government body that directly deals with the supervision and regulation of DTIs; conducting audits or providing risk-related consulting to federally or provincially regulated DTIs in an external audit or consulting firm.
• For SDAI positions: Extensive experience (defined as normally associated with six years) in each of the following: data preparation, transformation, and building analytics tools tailored to business needs, using tools such as Power BI, Power Apps, and Python; interpreting analytics outputs and enabling data-driven decisions through effective visualizations and clear storytelling techniques in the context of insurers or DTIs; analyzing insurance or banking financial risk data to identify, quantify, and monitor risks in one or more of the following: a DTI or insurer, a government body that directly supervises or regulates DTIs or insurers, a consulting firm providing financial risk analytics services to DTIs or insurers; applying a variety of statistical methods, advanced modeling and machine learning and GenAI techniques to structured and unstructured data.

Responsibilities

• Supervising a large portfolio of large and medium-sized life and property and casualty (P&C) insurers and reinsurers, acting as the primary interface between OSFI and these insurers, and monitoring their financial and operational strength as well as governance practices.
• Supervising a large portfolio of small and medium-sized deposit-taking institutions (DTIs), acting as the primary interface between OSFI and these DTIs, and monitoring their financial and operational strength as well as governance practices.
• Developing and maintaining data and analytic tools, including dashboards and models, that support supervision teams across OSFI, working closely with colleagues responsible for data and regulatory returns.

Benefits

• Telework arrangement (subject to annual review and potential change)
• Ability to work remotely from home within Canada with access to the Internet is a condition of employment.
• Ability and willingness to work overtime.
• Ability and willingness to travel internationally and/or domestically when required.

What This Job Offers

• Job Type: Full-time
• Career Level: Principal
• Education Level: Associate degree